Cardano Foundation Supports Loan Proposal to Expand Global Listings for ADA and SNEK Tokens

Cardano Foundation backs a ₳5M loan to expand global listings for Cardano Native Tokens like SNEK.

The proposal shifted from a non-repayable grant to a repayable loan, enhancing governance and accountability.

The proposal has gained significant support, with 85.71% of constitutional votes in favor.

The Cardano Foundation has officially backed a proposal to increase the global presence of Cardano Native Tokens (CNTs) by voting in favor of a treasury withdrawal request. This move is part of an initiative aimed at facilitating the listing of Cardano-based tokens, including SNEK, on major international exchanges. The proposal, presented by the Snek Foundation team, seeks to improve the ecosystem’s accessibility and growth on a global scale.

Proposal Overview and Financial Details

The proposal, titled ‘Loan ₳5,000,000 to Expand Cardano’s Global Listings’, requests a loan of 5 million ADA, approximately valued at $2.11 million. Initially framed as a non-repayable grant, the request has evolved into a repayable loan. This change was one of the key factors that led the Cardano Foundation to cast a positive vote after initially abstaining in August 2025.

The fundamental objective of this proposal is to improve the global exchange listings of Cardano-native tokens, especially SNEK, at the highest level. The Snek Foundation is convinced that this will contribute to the development of the ecosystem by making the tokens more visible and liquid within international markets.

Cardano Foundation’s Changing Stance

The Cardano Foundation’s stance on the proposal shifted significantly over the past few months. Initially, the Foundation refrained from voting, citing a need for further clarification. Concerns had been raised about the use of treasury funds for exchange listings of ecosystem tokens like SNEK and NIGHT.

However, the change of the proposal into a formal loan and the implementation of stricter supervision played a crucial role in the Foundation’s final decision of support. Now the Foundation regards this deal as more sustainable and transparent, which guarantees a proper administration of the money.

Added Transparency and Governance Measures

Besides the loan structure, the proposal consists of extra supervision via the administration of Intersect and the formation of an advisory board. These steps are intended to make the whole process more open and accountable. The Foundation was confident that any outstanding doubts about the budget info action coordination would be dealt with in the future governance procedures.

The proposal has received a lot of support as of November 2025. The constitutional committee effectively endorsed the proposal with six yes votes, which corresponds to 85.71% of the committee, and one member abstaining from the voting process. The Delegated Representatives (DReps) have voted in favor by 75.98%, and 8.02% have abstained. The voting process started on October 23, 2025, and will end on November 25, 2025.